HUTCHMED (NASDAQ:HCM) Shares Gap Down to $17.66

HUTCHMED (China) Limited (NASDAQ:HCM - Get Free Report)'s share price gapped down before the market opened on Tuesday . The stock had previously closed at $17.66, but opened at $16.98. HUTCHMED shares last traded at $16.69, with a volume of 11,172 shares traded.

Analyst Upgrades and Downgrades

HCM has been the topic of a number of research analyst reports. Cantor Fitzgerald restated an "overweight" rating on shares of HUTCHMED in a research note on Friday, January 12th. StockNews.com raised HUTCHMED from a "hold" rating to a "buy" rating in a report on Wednesday, March 27th. One investment analyst has rated the stock with a hold rating and four have issued a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $29.70.

HUTCHMED Price Performance

The company has a current ratio of 2.72, a quick ratio of 2.60 and a debt-to-equity ratio of 0.06. The business has a 50-day simple moving average of $15.87 and a 200 day simple moving average of $16.75.

Hedge Funds Weigh In On HUTCHMED

Several large investors have recently made changes to their positions in the business. Capital International Investors grew its stake in shares of HUTCHMED by 0.6% during the first quarter. Capital International Investors now owns 9,105,103 shares of the company's stock valued at $173,532,000 after buying an additional 50,212 shares during the last quarter. Goldman Sachs Group Inc. raised its stake in HUTCHMED by 1,096.7% in the 2nd quarter. Goldman Sachs Group Inc. now owns 3,913,287 shares of the company's stock worth $49,464,000 after acquiring an additional 3,586,271 shares during the last quarter. BlackRock Inc. raised its stake in HUTCHMED by 3.6% in the 1st quarter. BlackRock Inc. now owns 3,516,585 shares of the company's stock worth $66,534,000 after acquiring an additional 123,396 shares during the last quarter. Bellevue Group AG grew its position in HUTCHMED by 62.6% during the 1st quarter. Bellevue Group AG now owns 1,750,690 shares of the company's stock worth $33,123,000 after purchasing an additional 673,820 shares during the period. Finally, State Street Corp grew its position in HUTCHMED by 1.0% during the 3rd quarter. State Street Corp now owns 1,190,914 shares of the company's stock worth $10,551,000 after purchasing an additional 11,417 shares during the period. 8.82% of the stock is currently owned by hedge funds and other institutional investors.

About HUTCHMED

HUTCHMED (China) Limited, together with its subsidiaries, discovers, develops, and commercializes targeted therapeutics and immunotherapies for cancer and immunological diseases in Hong Kong and internationally. The company develops Savolitinib for the treatment of non-small cell lung cancer (NSCLC), papillary renal cell carcinoma (RCC), and gastric cancer (GC); and Fruquintinib, an inhibitor for colorectal cancer (CRC), breast cancer, gastric cancer, microsatellite stable-CRC endometrial cancer (EMC), NSCLC, RCC, gastrointestinal, cervical, and solid tumors.